Cidel Asset Management Inc. Buys 55,401 Shares of Pembina Pipeline Corp. $PBA

Cidel Asset Management Inc. boosted its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 22.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 307,057 shares of the pipeline company’s stock after purchasing an additional 55,401 shares during the quarter. Cidel Asset Management Inc.’s holdings in Pembina Pipeline were worth $14,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PBA. FIL Ltd grew its position in shares of Pembina Pipeline by 2.6% during the fourth quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company’s stock valued at $532,541,000 after purchasing an additional 359,109 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Pembina Pipeline by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock worth $375,236,000 after buying an additional 94,655 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Pembina Pipeline by 17.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after buying an additional 1,304,227 shares in the last quarter. Scotia Capital Inc. boosted its stake in Pembina Pipeline by 12.6% during the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock valued at $258,724,000 after buying an additional 717,773 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Pembina Pipeline during the second quarter valued at approximately $285,738,000. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 1.7%

Shares of NYSE PBA opened at $49.21 on Wednesday. The business’s 50 day moving average is $48.87 and its two-hundred day moving average is $46.86. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. Pembina Pipeline Corp. has a 1-year low of $36.20 and a 1-year high of $51.58. The stock has a market capitalization of $28.62 billion, a P/E ratio of 24.12 and a beta of 0.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. As a group, research analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. Pembina Pipeline’s payout ratio is currently 104.41%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Scotiabank downgraded Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, July 20th. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a report on Friday, July 31st. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Finally, Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.